New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-11-15
A TELEPHONE POOH BAH.
BOBBING UP AGAIN IN A NEW COMPANY.
ryr ,ssrunry COMMITTEES LAST SESSION HERE

THE ASSEMBLY COMMITTEDS LAST SESSION HERE
UNTIL DECEMBER
Henry L. Stori,, who Saturday appeared Delore 'o
Telephone Investigating Committee IN MS oapacy aS
yicr-preslont of the Wescheser Telephone Company
came on the stand yesterday rs the secretary
and treasurer Of the HUDSON River Telephone company
This corporation 100000 OF the 100000 stock
OF the Wcstchester company, the remaining Tloo'oOo
being in tho possession of the Metropolitan lot us
franchises The Hudson River Company, according W
r sorte began life on April 27 S3 after buying mp
tho Commercial Company, OF Albany. for T1ooSi 20;
ne Construction Telephone Company, OF Schehec'aty'
tor sI12OO 81; the New York and Vermont FOR
s11.7l5 i6: the Amsterdam and various other com
names along the Hudson River in the northern part OF
the state AMI as west rs Mdtlct0vn, for TloJ'
II also sprnt 900 Tor 900 miles OF lines ana TlDo)
FOR 100 miles OF extra wire. Other expenditures
ght the total Investment up to T6o3.6G7 H.
The capital OF the company was originally @1),ooo III
was increas ed at to S20JOOOO. OF this %lo'3ooo
VA. issued for property ami lsh while 100000 went
10 the American Bell Company for franchises; there was
Subsequent sale OF $3.50 at par for cash, leaving
BliOljO Of stock hand The territory now covered
y the company embraces the eastern part 0 me statc
from. north - south, and takes in wayne ana PlNe
Counties, Penn, and Sussex County " j. Inc gross
earnings of tie company down to July last were
r65.-l7 -, AMI the expenses Si03oJJ ~ leaving the
net earnings S-3iSl7 %; which dividends hal been
declared each year, exc pt 1883, amounting 10
$IlDs22 30. The per cent ol net earnings to the ca
stock outstanding ran irom 2O2 III 1880 to 336 In
1887.
Mr. storlc was once more pro lc on the nature OF his
c,ntracs with tho American Bell Telephone Company
These he said inucI like those VITA the other com
plnics. being perpetual AMI providing Tor - annual
royalty on each receiver AMI each transniter rs the
starting point. Mr.. An5wOrth AMI the witness hai
another struggle similar that of saur!ay over the
expiration Of the Bell patents. Mr.. stor6e declared
that the III Ison River Company simply admitted me
validity OF tie patents and agreed to use no other The
witness slipped in with cncOmiun on his c0midnyS
good service o. which hc had heard no complaint IN
Albany. The committee did not deny ms ana ~
sto~ hn.fcurd To say: Nv feeling about this lnvrS
necessary and there are many uev"i) pneh', III H.
ought 10 be- subject to legislative lnterIer
cncc." There was no re ppusc.
Mr. Storle'i next admission Of importance was that
the American BELL Company owned % 1.-THE over 81 per
cent OF tine Hudson tiver COMPANY ntocN ms STOCK
WIS now wort ahou' T'p c f"H Ie'Itc sun 'i,c
said had knocked t.icp IOnr stock down gtici-
ally. Tie Governments brneiog mat sat was MS
take. Tie Wiiuc-, could not br lime 40" 10 aS"cI
whether he tlOI-ht tIc Bell Company would escape
h'ins . monopoly" In small places tnrlr would ne
for only company. There would BE- room lor
The telephone hc con~i icrc luxury AMI not necs-
sity ycu present business methods, 70 his MIND, IeIt
the telephone in tits rflI ION
william \. fIoyry. of Boston, an American Bel Com
pIuy expert tc-tcl to the van oils patent, on the
Bell Instruments telephone being Supplied Tor i, use
Chairman Ain-TOtth'~ orders A~-flhn. IhiI y IN
over suddenly became invest sitOr ami "aute 10
know what would prevent the Bel Company rom DS
coming a monopoly I'm time. The witness reIici.
Ancr "A time the patent, expire and can't say "hat
other companies my do Iae capital stock 81 me
American B.I Company, the witness sni' "ls
rOODJODO. AM b. referred the committee 10 ltS ahu"
report iot information The s.9cH ot i",'' co'np'Ni'
he'll by the company WIS some @i5.ool,ODO ...u |
Inc cplniuiticr ago iiei ~ H''>''' ia M -; m
December T. 1t viii next sit IN Rochester AMI 'nei' i"
Auburn